Blockchain analysts have honed in on a significant transaction originating from a wallet associated with Ethereum (CRYPTO: ETH)  co-founder Vitalik Buterin.

What Happened: In the transaction, Buterin transferred approximately $14.9 million worth of USD Coin (CRYPTO: USDC) to the popular cryptocurrency exchange Gemini.

According to a post by blockchain analytics firm PeckShield on X, Buterin’s wallet, named “Vitalik.eth,” executed the transfer to Gemini on October 16. 

This transaction can be verified on Etherscan. It was discovered that Buterin had initially received the sum of 14.93 million USDC from Kanro, a charity linked to Vitalik, on Oct. 14.

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Why It Matters: Just three days prior, Buterin had transferred nearly $500,000 to Coinbase. In September alone, the total transferred amount from Buterin’s wallets surpassed $3.9 million.

On Sept. 24, he transferred 400 ETH (equivalent to $600,000 at the time) to Coinbase. 

Earlier in October, Buterin deposited 600 ether, which is around $1 million worth of the cryptocurrency, to crypto exchange Coinbase.

Price Action: At the time of writing, ETH was trading at $1,586, up 0.39% in the last 24 hours, according to Benzinga Pro.

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